SMALL MUTIFAMILY PROPERTIES

Small multifamily properties tend to have lower price points for two main reasons:
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1. They’re located in less expensive neighborhoods. As of 2018, 45% of properties with 2 units and 55% of those with 3 to 4 units were located in neighborhoods classified as low-income.
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2. They tend to be older than other properties. The typical 2- to 4-unit property was built in 1966—11 years earlier than residential properties in the U.S. overall, and 16 years earlier than the average large apartment building. In fact, 80% of the small multifamily properties on the market today were built prior to the 1980s—a quarter of which were actually built prior to 1920—resulting in lower prices than for newer construction.
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